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I ended up opening one last position for the year but used about 8x margin on it. I'm still expecting an end of year rally, with the idea that tax reform goes into next year. After that I'm just gonna take my money out and sit. The air is too thin at these levels....
My position has hit the 50% exit point today but I'm thinking of just hanging on to the current trade until the end of the year. I'm not sure about having another position open going into January....
I know it's against the rules but this will allow me to keep making a small gain without having a net new position open going into a time that's normally "softer" than usual.
Also, has anyone seen if it's possible to trade futures against indexes outside the US? I've searched for ETFs that trade the Nikkei but can't find anything that supports options. Anyone tried this?
Thanks. I checked /NKD but unfortunately there are no options available on it. I'll call ThinkOrSwim and see if there are any other options available. I wanted to have alternative indexes outside the US to monitor.
This year has been an unusual and good year for option sellers.
Good because there have been very few sell offs that create problems
for short options. The VIX this morning is at 9.65 , and the high for
the year (so far) is 17.28 . Can anyone remember when the VIX
was over 50? Experienced option sellers will always have one eye
toward the sky watching for that black swan. New option sellers
will not be concerned because they do not know that the black swan
can at any time from a clear blue sky swoop down and produce havoc,
mayhem, and destruction for the entire countryside.
